2011-06-07

Engineering goods top India's export list

The government's incentives to exports to non-traditional markets have helped Indian companies

Engineering goods top India's export list

The country's shipments of engineering goods have increased almost eight fold in the last decade to become the biggest item of exports, ahead of primary products that used to dominate earlier.

Engineering goods include metal products, industrial machinery and equipment, auto and its components, and transport equipment.

"The rest of the world has begun to see India as a good destination for engineering goods where we have scale of operations as well as niche and proprietary products," said Yatin Shah, managing director, Precision Camshafts.

The government's incentives to exports to non-traditional markets have helped Indian companies. The share of Europe and the US is down nearly 15 percentage points over the decade. The share of Russian Federation, Middle East and Africa is up to 13.5% from 5% a decade back.

"The engineering goods have moved from the low to the medium end in terms of skill, knowledge and R&D applied," says KT Chacko, Director of IIFT.

"Emerging markets in general are more cost competitive," said Shankar Raman , CFO of engineering major L&T. "There seems to be a shift from the high cost-low productivity west to low cost-high productivity east," he said.

Precision Camshafts is increasing its capacity and will soon become the largest camshaft manufacturer in the world.

A two-and-a-half times increase in exports over a period of 7-8 years is clearly achievable", BN Kalyani, Chairman and Managing Director, Bharat Forge added.

Related opportunities
  • Angel's Paradise: Nurturing Future Leaders Angel's Paradise is more than just..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2024
    Investment size Rs. 5lakh - 10lakh
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Precious Jewellery
    Miss Highness is a luxury silver jewellery brand that offers..
    Locations looking for expansion Delhi
    Establishment year 2023
    Franchising Launch Date 2025
    Investment size Rs. 30lakh - 50lakh
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Delhi Delhi
  • Household & Consumer Products
    Carbon emissions caused air pollution; which gave rise to the..
    Locations looking for expansion Gurugram
    Establishment year 2024
    Franchising Launch Date 2024
    Investment size Rs. 30lakh - 50lakh
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Gurugram Gurugram
  • Online Travel Services
    Nitsa Holidays – Your Gateway to Customized International Travel Nitsa Holidays..
    Locations looking for expansion Delhi
    Establishment year 2015
    Franchising Launch Date 2024
    Investment size Rs. 5lakh - 10lakh
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads